DIGEST
The digest printed below was prepared by House Legislative Services. It constitutes no part of the
legislative instrument. The keyword, one-liner, abstract, and digest do not constitute part of the law
or proof or indicia of legislative intent. [R.S. 1:13(B) and 24:177(E)]
HB 829 Original 2016 Regular Session Lance Harris
Abstract: Establishes the Mineral Revenue Stabilization Trust Fund and provides for the dedication
of mineral revenues.
Proposed law establishes the Mineral Revenue Stabilization Trust Fund as a permanent trust in the
state treasury. Provides for the annual deposit of mineral revenues after a deposit of $200 million
of mineral revenues into the state general fund. The deposit of mineral revenues into the fund shall
exclude the following deposits of mineral revenues required under present constitution and present
law, as follows:
(1)The Bond Security and Redemption Fund.
(2)Severance tax and royalty payments to the political subdivisions of the state.
(3)The Louisiana Wildlife and Fisheries Conservation Fund.
(4)The Oil and Gas Regulatory Fund.
(5)The Rockefeller Wildlife Refuge Trust and Protection Fund.
(6)The Marsh Island Operating Fund and the Russell Sage or Marsh Island Refuge
Fund.
(7)The MC Davis Conservation Fund.
(8)The White Lake Property Fund.
(9)The Louisiana Education Quality Trust Fund (the "8g Fund").
(10)The Coastal Protection and Restoration Fund.
(11)The Mineral Revenue and Audit Settlement Fund.
(12)The Budget Stabilization Fund.
(13)An amount equal to the state general fund deposited into the Transportation Trust
Fund and the Louisiana State Transportation Infrastructure Fund. Proposed law provides that mineral revenues that otherwise would go to the state general fund
because the Budget Stabilization has reached its cap shall be deposited into the Mineral Revenue
Stabilization Trust Fund.
Proposed law provides for the investment of money in the Mineral Stabilization Trust Fund.
Appropriations from the trust fund shall only be made from the annual earnings from interest,
dividends, and capital gains on investment in the fund for the following:
(1)New highway construction.
(2)Capital outlay projects.
Effective if and when the proposed amendment of Article VII of the Constitution of La. contained
in the Act which originated as House Bill No. of this 2016 R.S. of the Legislature is adopted
at a statewide election and becomes effective.
(Adds R.S. 39:100.111)